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This review cost me my job.

By Tom Stone   Follow   Sat, 31 Mar 2012, 5:41pm   1,598 views   7 comments
In Sebastopol CA 95472   Watch (1)   Share   Quote   Permalink   Like   Dislike  

Ouch.

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1. Patrick Follow Befriend (54) 5,188 threads 6,158 comments 46 male Menlo Park, CA

   1   5:56pm Sat 31 Mar 2012   Share   Quote   Permalink   Like   Dislike   Excellent review! Yes, "12 undistinguished acres" and "stage set" seem to discribe it pretty well.

2. Tom Stone Follow Befriend 34 threads 62 comments Sebastopol, CA

   2   7:08am Sun 1 Apr 2012   Share   Quote   Permalink   Like   Dislike   The photographs make it look better than it is.

3. Patrick Follow Befriend (54) 5,188 threads 6,158 comments 46 male Menlo Park, CA

   3   9:42am Sun 1 Apr 2012   Share   Quote   Permalink   Like   Dislike   ptiemann says Estimated rent: $1650 (typical 3-BR rent in the area) OK, my rent estimate is very wrong there. That's because I can't tell anything about property quality in an automated way. I just have the nearby 3br rents. ptiemann says I always ask "why do you sell". I would like to ask this seller the same question, but I doubt the seller reads this :-) I would love for sellers to read this! How can I get their attention?

4. Patrick Follow Befriend (54) 5,188 threads 6,158 comments 46 male Menlo Park, CA

   4   10:14am Sun 1 Apr 2012   Share   Quote   Permalink   Like   Dislike   Thanks! I used the new invitation box below the review to invite that guy Peter. Doubt he will join in, but worth a shot. Rents at the high end are kind of random and thin data. There is nothing like that place for rent in that zip code: http://patrick.net/housing/rental_comps.php?uaddr=1400+big+cedar+lane%2C+95472&br=&t=

5. waiting_for_the_fall Follow Befriend (1) 3 threads 104 comments Half Moon Bay, CA

   5   10:38am Sun 1 Apr 2012   Share   Quote   Permalink   Like   Dislike   that is one ugly house.

6. Tom Stone Follow Befriend 34 threads 62 comments Sebastopol, CA

   6   12:16pm Sun 1 Apr 2012   Share   Quote   Permalink   Like   Dislike   PTiemann, the price to rent calculator will not work in the Sebastopol area. It assumes homes are reasonably similar in a zip or neighborhood and that is not true of this area. The home would rent for $5k a month here, the servants quarters would bring $1200 and there will be income from the grapes. On a per sq ft basis the home is worth a little more than $200 per sq ft and cost more than $600 per sq ft to build.I'd give the land a value of about $90k an acre depending on the clone they planted and a market price of about $2MM-$2.25MM for the whole shebang. My father was an Appraiser and expert witness, I have held an Appraiser's License and I know this market area. There is a really nice estate coming back on the market this month for a little less than $3MM, I'll write it up when it lists. I had an english grandmother, this builder did to these materials what she used to do with food.

7. Tom Stone Follow Befriend 34 threads 62 comments Sebastopol, CA

   7   4:58pm Sun 1 Apr 2012   Share   Quote   Permalink   Like   Dislike   Thanks for the compliment. In this area you really have to develop a "Feel" for what the appropriate price should be because there are frequently no good comparable sales. It takes a while, I have been watching the market here as closely as I could for the last 8 years and the last two years have really deepened my understanding of how this particular market works. Going on the broker's tour with other agents and seeing every home that has come on the market over a period of time, seeing how long it takes to sell (If it does) and at what final price makes a big difference. The housing stock here is far from homogeneous to put it mildly.